Under the Miller-Orr Model, the Lower Limit for Cash Is

Under the Miller-Orr model, the lower limit for cash is:

A) Established as one-half of the target cash balance.
B) Equal to two times the average cash balance.
C) Equal to 3 times the target cash level minus 2 times the upper limit.
D) Set equal to zero, or the minimum as established by the bank.
E) Established by the management of the firm.